Dynamic Advisor Solutions LLC boosted its holdings in Norfolk Southern Co. (NYSE: NSC – Get Rating) by 44.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,590 shares of the railroad operator’s stock after buying an additional 2,018 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Norfolk Southern were worth $ 1,880,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Veriti Management LLC increased its holdings in Norfolk Southern by 18.2% in the first quarter. Veriti Management LLC now owns 4,138 shares of the railroad operator’s stock valued at $ 1,180,000 after buying an additional 636 shares during the last quarter. Atalanta Sosnoff Capital LLC grew its holdings in shares of Norfolk Southern by 35.6% during the first quarter. Atalanta Sosnoff Capital LLC now owns 272,847 shares of the railroad operator’s stock worth $ 77,821,000 after purchasing an additional 71,673 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Norfolk Southern by 1.2% during the first quarter. Nordea Investment Management AB now owns 781,002 shares of the railroad operator’s stock worth $ 226,155,000 after purchasing an additional 9,312 shares during the last quarter. Everence Capital Management Inc. grew its holdings in shares of Norfolk Southern by 19.6% during the first quarter. Everence Capital Management Inc. now owns 7,190 shares of the railroad operator’s stock worth $ 2,051,000 after purchasing an additional 1,180 shares during the last quarter. Finally, Marotta Asset Management grew its holdings in shares of Norfolk Southern by 153.3% during the first quarter. Marotta Asset Management now owns 3,921 shares of the railroad operator’s stock worth $ 1,118,000 after purchasing an additional 2,373 shares during the last quarter. 73.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Norfolk Southern stock opened at $ 224.20 on Wednesday. Norfolk Southern Co. has a 12-month low of $ 219.31 and a 12-month high of $ 299.20. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 1.02. The stock has a market cap of $ 53.43 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 1.52 and a beta of 1.37. The company has a 50-day moving average of $ 245.71 and a two-hundred day moving average of $ 266.11.
Norfolk Southern (NYSE: NSC – Get Rating) last issued its earnings results on Wednesday, April 27th. The railroad operator reported $ 2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 2.91 by $ 0.02. Norfolk Southern had a net margin of 26.58% and a return on equity of 21.95%. The company had revenue of $ 2.92 billion during the quarter, compared to analysts’ expectations of $ 2.83 billion. During the same period last year, the company posted $ 2.66 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts forecast that Norfolk Southern Co. will post 13.9 EPS for the current fiscal year.
Norfolk Southern declared that its Board of Directors has authorized a share buyback program on Tuesday, March 29th that allows the company to buyback $ 10.00 billion in shares. This buyback authorization allows the railroad operator to purchase up to 14.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 20th. Stockholders of record on Friday, May 6th were paid a dividend of $ 1.24 per share. The ex-dividend date was Thursday, May 5th. This represents a $ 4.96 dividend on an annualized basis and a dividend yield of 2.21%. Norfolk Southern’s dividend payout ratio (DPR) is 40.03%.
In other news, CEO Alan H. Shaw sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $ 241.84, for a total transaction of $ 241,840.00. Following the completion of the transaction, the chief executive officer now directly owns 34,255 shares of the company stock, valued at approximately $ 8,284,229.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company stock.
Several equities analysts have issued reports on the company. TD Securities raised their price objective on Norfolk Southern from $ 300.00 to $ 305.00 and gave the stock a “buy” rating in a report on Thursday, April 28th. Citigroup downgraded shares of Norfolk Southern from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $ 345.00 to $ 260.00 in a research note on Thursday, May 19th. Barclays decreased their target price on shares of Norfolk Southern from $ 300.00 to $ 255.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 14th. Susquehanna Bancshares decreased their target price on shares of Norfolk Southern from $ 356.00 to $ 350.00 in a research note on Thursday, April 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Norfolk Southern from $ 318.00 to $ 308.00 and set an “overweight” rating for the company in a research note on Friday, April 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $ 301.82.
Norfolk Southern Profile: (Get Rating)
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.
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